Tower Research Capital LLC TRC Has $514,000 Stock Position in Avnet, Inc. (NASDAQ:AVT)

Tower Research Capital LLC TRC raised its position in shares of Avnet, Inc. (NASDAQ:AVT) by 667.6% in the 4th quarter, Holdings Channel reports. The firm owned 9,818 shares of the company’s stock after acquiring an additional 8,539 shares during the period. Tower Research Capital LLC TRC’s holdings in Avnet were worth $514,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. MetLife Investment Management LLC increased its holdings in shares of Avnet by 7.5% during the fourth quarter. MetLife Investment Management LLC now owns 49,007 shares of the company’s stock worth $2,564,000 after buying an additional 3,438 shares in the last quarter. Natixis increased its holdings in shares of Avnet by 1,463.8% during the fourth quarter. Natixis now owns 735 shares of the company’s stock worth $38,000 after buying an additional 688 shares in the last quarter. GeoWealth Management LLC acquired a new position in shares of Avnet during the fourth quarter worth $31,000. Farringdon Capital Ltd. acquired a new position in shares of Avnet during the fourth quarter worth $266,000. Finally, Ontario Teachers Pension Plan Board increased its holdings in shares of Avnet by 301.7% during the fourth quarter. Ontario Teachers Pension Plan Board now owns 15,430 shares of the company’s stock worth $807,000 after buying an additional 11,589 shares in the last quarter. 95.78% of the stock is currently owned by institutional investors and hedge funds.

Avnet Stock Performance

NASDAQ AVT opened at $51.70 on Tuesday. The company has a market capitalization of $4.47 billion, a price-to-earnings ratio of 14.65, a PEG ratio of 1.13 and a beta of 1.04. Avnet, Inc. has a twelve month low of $39.22 and a twelve month high of $59.24. The stock has a fifty day simple moving average of $48.03 and a 200 day simple moving average of $51.49. The company has a quick ratio of 1.15, a current ratio of 2.39 and a debt-to-equity ratio of 0.53.

Avnet (NASDAQ:AVT) last posted its quarterly earnings data on Wednesday, January 29th. The company reported $0.87 earnings per share for the quarter, missing analysts’ consensus estimates of $0.88 by ($0.01). Avnet had a net margin of 1.41% and a return on equity of 7.49%. Sell-side analysts expect that Avnet, Inc. will post 3.41 EPS for the current year.

Avnet Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 19th. Shareholders of record on Wednesday, March 5th were given a dividend of $0.33 per share. The ex-dividend date was Wednesday, March 5th. This represents a $1.32 dividend on an annualized basis and a yield of 2.55%. Avnet’s dividend payout ratio (DPR) is currently 37.39%.

Analyst Ratings Changes

Several brokerages have recently issued reports on AVT. Truist Financial lowered their price target on shares of Avnet from $54.00 to $52.00 and set a “hold” rating for the company in a report on Thursday, January 30th. Bank of America downgraded Avnet from a “neutral” rating to an “underperform” rating and decreased their price objective for the company from $58.00 to $48.00 in a report on Thursday, January 30th.

Avnet Profile

Avnet, Inc, distributes electronic component technology. The company operates through two segments, Electronic Components and Farnell. The Electronic Components segment markets, sells, and distributes semiconductors; interconnect, passive, and electromechanical components; and other integrated components from electronic component manufacturers.